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4/27/2014 Global Sourcing Final flashcards | Quizlethttp://quizlet.com/41486970/global-sourcing-final-flash-cards/ 1/15Global Sourcing Final Created by rtc12 This set has 156 termsOriginal AlphabeticalOnly covering Trading Blocs/ Quality Assurance/ ArticlesIntra EU trade among countries that are membersof the EUExtra EU EU trade with countries that are notmembers of the EUEU15 original 15 countries of the EU (WesternEurope)EU 2004 Eastern Europeeffected by end of MFAImports/Exports depend on level of domestic consumptionavailaility of materials level of economic/industrialdevelopmentIndustrial Revolution Began 1700Industrial Textile Advancements fly shuttle loomspinning equipmentsSociety went From Agricultural/Rural to Industrial/Urban1800s English Colonies Americas, India, Africa60% World Trade in Cotton EnglandGermany divided into West/East after WWIIhigh labor/production costshigh tech fashionItaly high wageshigh end niche marketupscale fashion exporter (armani,versace, valentino, prada, diesel)(quality, luxury, fashion)Logged in as rtc124/27/2014 Global Sourcing Final flashcards | Quizlethttp://quizlet.com/41486970/global-sourcing-final-flash-cards/ 2/15France reconcilation with Germanyeconomicreunificationexports pretaporter (ready to wear)sold under designersdior, pierre cardin, chanel, givenchy,hermes, st. laurent(fine wine, food, and fashion)Paris France's principal import, marketing,distribution centerAvenue des Champs Elysees most expensive retail space in europeLondon's Oxford St & New Bond St second most expensive retail space ineuropeSpain lower wages/ GDPproduced for textiles/apparelfast fashion (ZARA)effected by expiration of MFAEASTERN EUROPE (Poland) most produce new 2004 EU countryproduce for foreign firms for exportprovides apparel consumer market forother nationsRussia large, poor in natural resourcesnot a member of EU or WTOcotton/wool agricultural productsnot modern manufacturingshift from street to retailfashion designers emergingRomania  EU 2007texilte/ manufacturing 1/4 of totalexportsmoving towards privatization(womens suits for TJ maxx)FTAA Free Trade Area of AmericasOrganization of American States (OAS) Defend democracy, protect humanrights, strengthened security againstterrorism, foster free trade/ Free TradeArea of Americas (FTAA), combatillegal drugs, and fight corruption.4/27/2014 Global Sourcing Final flashcards | Quizlethttp://quizlet.com/41486970/global-sourcing-final-flash-cards/ 3/15NAFTA North American Free Trade Association(1994)US,Cananda, Mexicono tariffsreduced quotaseliminate restrictions on foreigninvestmentenvironmental standardsethical standards (child labor, health,saftey, minimum wage)1994 MERCOSUR: Southern CommonMarketArgentina, Brazil, Paraguay,Uruguay,Boliva and ChileFree internal tradeCommon external tariff2001 FTAA (Free Trade Area ofAmericas)Make all of the Americas a free tradearea(extension of NAFTA andMERCOSUR)Still under negotiationWill allow free trade among 34 countriesOnly 2 Developed Countries in theAmericasCananda/USUS Retail Merging Into Huge Corporationshuge quantitiesless diversedriving out small business(Ex: Walmart, Target, Federated)Cananda Larger than US (1/9 Population)1982 independent of Great BritainEnglish/French speakingUS is largest source of textilesretail 2nd largest employerCanadian Apparel Manufacturing Can effectively produce small runsCan cater to niche marketsBecoming known for qualityCanadian Retail Growth went from small stores to big companiesinternet growing4/27/2014 Global Sourcing Final flashcards | Quizlethttp://quizlet.com/41486970/global-sourcing-final-flash-cards/ 4/15Mexico Independence from Spain 182195% family owned business90% of apparel exports are to USNAFTA in Mexico apparel exported must be made fromtextiles made in Mexico, US or Canadaprevents seeking cheaper sourcingoptionsNAFTA claims to prevent illegaltransshipmentRetailing in Mexico Modern Retail Stores(efficient/technology)Traditional Markett (streets/small stores)Caribbean Basin apparel industry growth is a result ofU.S. trade preference programs alternate to drugs"Fabric Forward" rule US Textiles shipped to other countriesfor constructionthen imported back to US with the tariffpaid only on the added value of thegarment. Allows production of apparel outside ofU.S. while protecting U.S. textileproductionANDEAN Bolivia, Colombia, Ecuador,Venezuela,and PeruPeru highend cotton and camelid (alpaca,llama, and guanaco)OAS (Organization of American States)1948First attempt to unify economic andpolitical goals of the AmericasAmericas consist of North AmericaCentral AmericaWest IndiesSouth America4/27/2014 Global Sourcing Final flashcards | Quizlethttp://quizlet.com/41486970/global-sourcing-final-flash-cards/ 5/15Asia Largest population/geographic size1/3 of world's landmass 56% of world's populationHighest population density in world(China & India)East Asia China, South Korea, Taiwan, and JapanSoutheast Asia Hong Kong and ASEAN—8 countriesin the Association of Southeast AsianCountiesSouth Asia Pakistan to Bangladesh, including IndiaOceania Australia and New ZealandAPEC: AsiaPacific EconomicsCooperation, 198921 nationsno treaty obligations/bindingcommitmentsMember nations "Pacific Rim" includeNAFTA countries, Chile and Peru(South America)MFA Phase Out Caused Retailers to consolidate purchasing activitiesSourcing Considerations tariff ratessocial responsibilitypolitical/economic situationworkers (low cost, skilled, ethical)technologyraw materialslevel of service provided (full packagevs. CMT)OCEANIA Australia and New Zealand developedeuropean settlementsproduce over half the world's wool fordomestic use and exportSmall apparel industry, mostly fordomestic use; highquality fashion goodsJapan, South Korea, and Taiwan produce textiles but outsource apparelproduction research and production of syntheticfibers4/27/2014 Global Sourcing Final flashcards | Quizlethttp://quizlet.com/41486970/global-sourcing-final-flash-cards/ 6/15Japan technology orientedimports 90% of apparelDesire highend, highfashion, luxurygoods (consumer 41% of world's luxurygoods)Hong Kong and Macau Leading global exporters of textiles andapparelChina Largest producer of manmade fibersCheap mass producedASEAN: Association of SoutheastAsian NationsBrunei,

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